Predictions of Cold Weather Raise Expectations of Greater Demand

NEW YORK--U.S. oil futures cruised to another 2014 high Wednesday, as a tightening picture for products refined from crude and improved domestic pipeline infrastructure buoyed the market.

Light, sweet crude for March delivery rose 88 cents, or 0.9%, to $103.31 a barrel on the New York Mercantile Exchange. Prices were at their highest level since Oct. 8 and have bounced 12.7% from last month's lows. Brent crude for April delivery, the...